Cosmos Hub Updates, Celestia DA Stat Plunge, Polaris Beta Launch, and dYdX Yap-to-Earn
This week’s report highlights major updates from across the Cosmos ecosystem:
Cosmos Hub Thesis by Chorus One
Stargaze and Intento are joining the Cosmos Hub
Celestia DA stats see a significant drop
Polaris & OSMO token burn updates
dYdX Yap-to-Earn
Let’s dive in!
Cosmos Hub Update
Chorus One has released their Cosmos Hub thesis on why ATOM’s moment has arrived
TL;DR:
With the rollout of IBC v2, strong leadership from Interchain Labs, Stride building a native DEX for IBC Eureka, and the upcoming permissionless VM, the Cosmos Hub is evolving into the growth engine and liquidity center of the entire Cosmos ecosystem.
Read the article here.
Magmar shared his thoughts on a potential Stargaze acquisition
TL;DR:
ATOM from the Community Pool (CP) could be used to acquire Stargaze
This would be the first and last acquisition funded by the CP
Stargaze should direct 20%+ of its revenue to benefit ATOM, and adopt ATOM as its token
Stargaze remains independent of Interchain Labs and will not receive additional Hub funding
50%+ of the acquisition funds should be milestone-based (integration, volume, UX, etc.)
Read Magmar’s thoughts here
Hydro Introduces Riptide
Ritipde is a new risk-sharing mechanism in the Hydro voting process. With Riptide, rewards and penalties are directly tied to the performance of liquidity deployments:
If a deployment performs well, voters earn rewards
If it underperforms, voters are penalized, and a portion of their locked tokens is forfeited
Read the announcement here
Lumera Protocol Transitions to Cosmos SDK
Formerly known as Pastel Network, Lumera Protocol is evolving into a Cosmos SDK chain. It’s building robust infrastructure to support:
Advanced AI integration
Decentralized storage
Content authentication
Check them out here
Intento is launching with Cosmos Hub Partial Set Security
Intento is an intent-driven blockchain that orchestrates action flows across blockchain using real-time inputs, on-chain.
Check them out here.
Interesting Numbers & Charts
Celestia Data Availability Stats
Celestia has seen a sharp drop in DA usage, likely due to the end of the Eclipse Turbo Tap game. Despite the drop, the game successfully showcased Celestia’s ability to handle high DA throughput at very low cost.
With the drop in Celestia DA usage, Ethereum has regained the top spot in DA market share, now accounting for ~57% of total daily data posted.
On the bright side, four of Conduit’s Arbitrum Orbit chains have recently upgraded to use Celestia for DA — including Blackbird, Gravity Chain, Plume Network, and WINR Protocol.
Monthly OSMO Token Burn
Each month, 50% of OSMO collected via taker fees is permanently burned. In April, 164,000 OSMO were burned — bringing the total to nearly 3 million OSMO since inception.
Since launching in 2021, Osmosis has generated over $19M in protocol revenue, which is allocated to:
OSMO stakers
Bitcoin accumulation
Growing the Community Pool
Osmosis also recently integrated with IBC Eureka, solidifying its position as the interchain DEX for trading major Eureka assets such as ETH, USDT, and WBTC.
DeFi, NFTs & Apps: Have you tried these?
Polaris: The Token Portal
Polaris is building the Token Portal, a powerful mega-aggregator that simplifies on-chain trading.
Trade any token, with any wallet, across any chain — all in one seamless interface.
Try their beta version here.
Watch our tutorial on Polaris by Seppmos here:
Axelar Now Supports Sui Network Squid Router
Sui Network is now integrated with Axelar, enabling seamless bridging and swapping between Sui and other Axelar-supported chains — including Cosmos chains, EVM chains, and Solana.
Try it out now using Squid Router or smart wallets like Backpack and Slush Wallet.
dYdX Yap-to-Earn Campaign
dYdX has launched their Yap-to-Earn campaign in collaboration with KaitoAI!
Tweet about dYdX to climb the leaderboard
$50K prize pool distributed monthly over 3 months
100 winners selected each month
Check it out here.
Airdrops Alpha
BitcoinOS Airdrop For Bad Kids NFT Holders
BitcoinOS is a ZK-Powered OS connnecting Bitcoin, Cardano, Arbitrum and more — has announced the final phase of its airdrop campaign.
Bad Kids NFT holders are officially included in the upcoming drop. Join their Discord and verify your NFT holdings to register for the drop.
Read the announcement here.
OMies Drop Is Live
The OM airdrop for OMies NFT holders is now live!
10% of the total airdrop is currently claimable.
Claim the airdrop here.
Good Reads, Minor News & Podcasts
Minor News
300K STRD Burned in the past 8 weeks. Check it out here.
Sei To Support EVM Only — CosmWasm support will be depreceated. Read the details here.
Agoric To Sunset Inter Protocol In 60 Days — If you hold IST, be sure to close your vault, withdraw your collateral, or swap IST to other assets. Read the details here.